Fight for the pension: Austria's system threatens to come under pressure!

Fight for the pension: Austria's system threatens to come under pressure!

Österreich, Österreich - Austria faces a serious problem with regard to its pension system. According to the Industrial association , the existing system is classified as not sustainable, since the costs for pensions are increasing significantly. Christoph Neumayer, General Secretary of the IV, therefore calls for urgent structural reforms to ensure a long -term sustainable pension system.

Austria's expenses for pensions are located compared to other OECD countries in the upper third, but are significantly higher than the EU average, as a study by ecoaustria . The public expenditure load for pensions is the fourth highest in the OECD, with the average pension further decreasing in relation to the average wage. This ratio is currently 56 percent, while it is 67 percent in Denmark 61 and in the Netherlands.

Current developments and challenges

Previous measures to reform the pension system, such as the restriction of the corridor pension and the introduction of a partial board, were highlighted as positive approaches. However, these must be made practical to be effective. The new sub -pension is intended to facilitate the transition from working life to retirement, but needs an unbureaucratic process to avoid statistical distortions.

The rapidly increased life expectancy is a central challenge for old -age insurance in Austria. These demographic changes require a generational pension system that also takes into account the developments in international comparison. As the Federal Center for Political Education , old-age security systems in Europe are complex and not easily transferable.

international comparison and reform requirement

Austria urgently needs to search solutions and reform approaches in cooperation with relevant social groups. An Ecoaustria study gives concrete starting points to increase the performance of the pension system and strengthen competitiveness. Without reforms, the pressure on the pension system will continue to increase, which significantly increases the risk of old -age poverty.

The current social and economic framework conditions require extensive reforms, especially with regard to financing and performance levels. Austria's expenses for pensions are to be redesigned in the context of European recommendations that provide a reduction in pension expenses and an increase in age limits. This also applies to the mixing of capital -covered and afflicted systems that have already been successfully implemented in countries such as Denmark and the Netherlands.

The challenges that arise from demographic change and the need for more sustainable retirement provision make it clear that Austria has to use scope for action to develop a future -proof pension system.